TRAVEL & TOURISM

ECONOMIC IMPACT 2019

WORLD
ECONOMIC
IMPACT 2019

“Yet again, the strong economic

performance of Travel & Tourism
proves the power of the sector as a tool
for governments to generate prosperity
while creating jobs around the world.”
Gloria Guevara Manzo, President & CEO
World Travel & Tourism Council

For more information, please contact:

ROCHELLE TURNER | Research Director NEJC JUS | Economic Research Manager
rochelle.turner@wttc.org nejc.jus@wttc.org

THE ECONOMIC IMPACT
OF GLOBAL TRAVEL &
TOURISM
10.4 %
Travel & Tourism GDP as a
percentage of global GDP.
3.9%
Direct Travel & Tourism GDP
growth in 2018.
319m
Jobs are supported by Travel &
Tourism. This is 10% of global
employment.
1 /5
of all global net jobs created
over the last five years within
the Travel & Tourism sector.
Cover: Maarten van den Heuvel, Unspash
Inside cover: Rye Jessen, Unsplash
FOREWORD
A
s one of the world’s largest economic sectors, Travel & Tourism creates
jobs, drives exports, and generates prosperity across the world. The sector,
comprised of a wide range of industries, aims to serve and support domestic,
international, business and leisure visitors. Companies, large and small, in
industries ranging from accommodation and transportation to food & beverage, retail and
culture and sports & recreation, all strive to create products and services that bring people
together, support communities and celebrate the wonders that our world can offer.
In its annual analysis quantifying the global economic and employment impact of Travel
& Tourism in 185 countries and 25 regions, the World Travel & Tourism Council’s (WTTC)
research reveals that the sector accounted for 10.4% of global GDP and 319 million jobs, or
10% of total employment in 2018. The division of overall spend is firmly weighted towards
the leisure market, which represented 78.5% of the total compared with 21.5% for business
spend, and the sector accounted for 6.5% of total global exports and 27.2% of total global
service exports. Domestic tourism, which represented 71.2% of all tourism spending in 2018
and had the strongest growth in developing nations, continues to support opportunities
by spreading development and regional economic benefits and building national pride.
The continued rise in the number of middle class households and the solid growth in
global consumer spending once again enabled the Travel & Tourism sector’s growth
to reach 3.9%, outpacing the global economy for the eighth consecutive year. The
USA, China, Japan, Germany and the UK were the top five markets in 2018, collectively
representing 47% of the global Travel & Tourism GDP.
Across the regions in 2018, Asia-Pacific remained a strong performer, growing by 6.4%,
but North Africa’s performance – with 8.6% year on year growth – is particularly notable.
This growth not only showcases the sector’s resilience and capacity to bounce back from
security shocks, but also its ability to spread its benefits widely across the world. In effect,
Ethiopia, Ecuador, St Kitts and Nevis, Egypt and Turkey led the world for Travel & Tourism
GDP growth in 2018.
This growth, in turn, enables job creation. Travel & Tourism, which already supports one in
every ten jobs on the planet, and has accounted for one in five of all jobs created across
the world over the past five years, is a dynamic engine of employment opportunities. Jobs
in Travel & Tourism particularly support women, youth and other, often marginalised
groups of society.
Factors influencing the flow of travellers around the world, such as a destination’s
attractiveness and its currency strength, will continue to affect traveller behaviour in
the coming year. Undoubtedly, new developments will emerge alongside these existing
factors. As some nations look increasingly inward, Travel & Tourism becomes even more
critical as an engine of economic development and as a vehicle for sharing cultures and
building mutual understanding.
The most effective policy and investment decisions are made with empirical evidence. For
nearly 30 years, WTTC has been proud to provide the only global comparative evidence
base for Travel & Tourism’s economic performance. This data empowers both public
and private bodies to make sound economic decisions that can support sustainable and
inclusive growth and provides the comparative evidence to analyse the impacts. As a
result, governments across the world are better able to strategically plan and develop
more effective policies, enhance their decision-making relating to investment, and further
cooperate with the private sector to ensure the Travel & Tourism sector provides the
greatest opportunities for societies to prosper.
Gloria Guevara Manzo
President & CEO
TRAVEL & TOURISM ECONOMIC IMPACT 2019
CONTENTS

THE ECONOMIC IMPACT

OF TRAVEL & TOURISM
MARCH 2019

FOREWORD

2019 ANNUAL RESEARCH: KEY HIGHLIGHTS 1

DEFINING THE ECONOMIC CONTRIBUTION OF TRAVEL & TOURISM 2

TRAVEL & TOURISM’S CONTRIBUTION TO GDP 3

TRAVEL & TOURISM’S CONTRIBUTION TO EMPLOYMENT 4

VISITOR EXPORTS AND INVESTMENT 5

DIFFERENT COMPONENTS OF TRAVEL & TOURISM 6

SUMMARY TABLES: ESTIMATES & FORECASTS 7

THE ECONOMIC CONTRIBUTION OF TRAVEL & TOURISM: REAL 2018 PRICES 8

THE ECONOMIC CONTRIBUTION OF TRAVEL & TOURISM: NOMINAL PRICES 9

THE ECONOMIC CONTRIBUTION OF TRAVEL & TOURISM: GROWTH 10

GLOSSARY 11

METHODOLOGICAL NOTE 12

REGIONS, SUB-REGIONS & COUNTRIES 13

 10.4%
GLOBAL GDP GROWTH BREAKDOWN OF GLOBAL
2018 (%) TRAVEL & TOURISM SPENDING
CONTRIBUTION TO GLOBAL
GDP 2018 (US$8.8 TN)
INTERNATIONAL

3.9 TRAVEL & TOURISM 28.8%

1 / 10 DOMESTIC

71.2%
OF ALL JOBS IN 2018
(319 MILLION)
BUSINESS

3.2 WHOLE ECONOMY 21.5%

1/5 LEISURE
OF ALL NEW JOBS CREATED OVER THE
LAST FIVE YEARS
78.5%

TRAVEL & TOURISM REGIONAL PERFORMANCE, 2018*

NORTH AMERICA MIDDLE EAST

1.9 TN 8.2% 2.3 237 BN 8.7%
3.1 6.6
CARIBBEAN NORTH EAST ASIA
2.1 0.6 7.2
62 BN 15.5% 2.1 TN 9.6%

EUROPE
6.2
5.6 SOUTH ASIA
2.2 TN 9.7%
2.4 3.5 296 BN 8.8%

LATIN AMERICA SOUTH EAST ASIA

336 BN 8.7% 373 BN 12.6%

AFRICA OCEANIA
194 BN 8.5% TOTAL GDP CONTRIBUTION (US$) % WHOLE ECONOMY GDP % T&T GDP GROWTH
206 BN 12.2%

* Growth highlighted in green when it is above global T&T GDP growth of 3.9%

A CLOSER LOOK

SECTOR GDP GROWTH TRAVEL & TOURISM

2018 (%) CONTRIBUTION TO GDP

2018 T&T CONTRIBUTION 2018 T&T GDP DOMESTIC SPEND, % INTERNATIONAL SPEND, LEISURE SPEND, % BUSINESS SPEND, %
TO GDP (US$ BN) GROWTH (%)** SHARE OF TOTAL, 2018 % SHARE OF TOTAL, 2018 SHARE OF TOTAL, 2018 SHARE OF TOTAL, 2018

1 UNITED STATES 1,595 2.2 81.2 18.8 71.3 28.7

2 CHINA 1,509 7.3 85.8 14.2 81.4 18.6
3 JAPAN 368 3.6 82.5 17.5 68.5 31.5
4 GERMANY 345 1.2 85.2 14.8 83.1 16.9
5 UNITED KINGDOM 311 1.0 84.4 15.6 65.9 34.1
6 ITALY 275 3.2 76.2 23.8 79.1 20.9
7 FRANCE 266 4.1 65.7 34.3 80.5 19.5
8 INDIA 247 6.7 87.2 12.8 94.8 5.2
9 SPAIN 211 2.4 44.8 55.2 88.5 11.5
10 MEXICO 209 2.4 85.2 14.8 94.1 5.9
11 AUSTRALIA 154 3.2 76.1 23.9 84.4 15.6
12 BRAZIL 153 3.1 93.8 6.2 87.9 12.1
While the financial services sector grew strongest in 13 CANADA 111 2.9 76.3 23.7 63.7 36.3
2018, Travel & Tourism's growth at 3.9% still strongly 14 THAILAND 110 6.0 19.8 80.2 90.6 9.4
outperformed the global economy (3.2%). 15 TURKEY 96 15.0 38.6 61.4 87.4 12.6

¹This data includes the direct, indirect, and induced impact of Travel & Tourism **Growth highlighted in green when it is above global T&T GDP growth of 3.9%
All data as of February 2019, unless otherwise stated Source: Oxford Economics for World Travel & Tourism Council
Figures are in real 2018 prices and exchange rates

TRAVEL & TOURISM ECONOMIC IMPACT 2019 | 1

 DEFINING THE ECONOMIC
CONTRIBUTION OF TRAVEL & TOURISM
Travel & Tourism is an important economic activity in most countries around the world. As well as its direct economic impact, the
industry has significant indirect and induced impacts. The UN Statistics Division-approved Tourism Satellite Accounting
methodology (TSA:RMF 2008) quantifies only the direct contribution of Travel & Tourism. But WTTC recognises that Travel &
Tourism's total contribution is much greater, and aims to capture its indirect and induced impacts through its annual research.

DIRECT
Travel & Tourism contribution

COMMODITIES
● Accommodation
● Transportation
● Entertainment
● Attractions
INDIRECT INDUCED TOTAL
INDUSTRIES Travel & Tourism contribution Travel & Tourism
● Accommodation services contribution (spending of direct and contribution
● Food & beverage services indirect employees)
● Retail Trade ● T&T investment spending
● Transportation services
● Cultural, sports & recreational ● Government collective T&T ● Food and beverages ● To GDP
services spending ● Recreation
● Clothing ● To employment
SOURCES OF SPENDING ● Impact of purchases from ● Housing
● Residents' domestic T&T suppliers ● Household goods
spending
● Businesses' domestic travel
spending
● Visitor exports
● Individual government T&T
spending

DIRECT CONTRIBUTION

The direct contribution of Travel & Tourism to GDP reflects the ‘internal’ spending on Travel & Tourism (total spending within a particular
country on Travel & Tourism by residents and non-residents for business and leisure purposes) as well as government 'individual' spending -
spending by government on Travel & Tourism services directly linked to visitors, such as cultural (eg museums) or recreational (eg national parks).

The direct contribution of Travel & Tourism to GDP is calculated to be consistent with the output, as expressed in National Accounting,
of tourism-characteristic sectors such as hotels, airlines, airports, travel agents and leisure and recreation services that deal directly with
tourists. The direct contribution of Travel & Tourism to GDP is calculated from total internal spending by ‘netting out’ the purchases made
by the different tourism sectors. This measure is consistent with the definition of Tourism GDP, specified in the 2008 Tourism Satellite
Account: Recommended Methodological Framework (TSA: RMF 2008).

The total contribution of Travel & Tourism includes its ‘wider impacts’ (ie the indirect and induced impacts) on the economy. The ‘indirect’
contribution includes the GDP and jobs supported by:

● Travel & Tourism investment spending – an important aspect of both current and future activity that includes investment activity
such as the purchase of new aircraft and construction of new hotels;

● Government 'collective' spending, which helps Travel & Tourism activity in many different ways as it is made on behalf of the
‘community at large’ – eg tourism marketing and promotion, aviation, administration, security services, resort area security services, resort
area sanitation services, etc;

● Domestic purchases of goods and services by the sectors dealing directly with tourists – including, for example, purchases of food and
cleaning services by hotels, of fuel and catering services by airlines, and IT services by travel agents.

The ‘induced’ contribution measures the GDP and jobs supported by the spending of those who are directly or indirectly employed by the
Travel & Tourism industry.
PLEASE NOTE THAT DUE TO CHANGES IN METHODOLOGY BETWEEN 2010 AND 2011, IT IS NOT POSSIBLE TO COMPARE FIGURES PUBLISHED BY WTTC FROM 2011 ONWARDS
WITH THE SERIES PUBLISHED IN PREVIOUS YEARS.

2 | WORLD TRAVEL & TOURISM COUNCIL

TRAVEL & TOURISM'S CONTRIBUTION
TO GDP1
The direct contribution of Travel & Tourism to GDP in 2018 was USD2,750.7bn (3.2% of GDP). This is forecast to rise by 3.6% to USD2,849.2bn in 2019.
This primarily reflects the economic activity generated by industries such as hotels, travel agents, airlines and other passenger transportation
services (excluding commuter services). But it also includes, for example, the activities of the restaurant and leisure industries directly supported by
tourists.

The direct contribution of Travel & Tourism to GDP is expected to grow by 3.6% pa to USD4,065.0bn (3.5% of GDP) by 2029.

WORLD: DIRECT CONTRIBUTION OF TRAVEL & TOURISM TO GDP

CONSTANT 2018 USDBN % OF WHOLE ECONOMY GDP

4,500 4.0

4,000 3.5
3,500 3.0
3,000
2.5
2,500
2.0
2,000
1.5
1,500
1.0
1,000

500 0.5

0 0.0

2029
2009

2009
2012
2013
2014

2016

2019

2029

2012

2014

2016

2019
2010
2011

2015

2017
2018

2010

2011

2015

2017

2018
2013
2029

The total contribution of Travel & Tourism to GDP (including wider effects from investment, the supply chain and induced income impacts,
see page 2) was USD8,811.0bn in 2018 (10.4% of GDP) and is expected to grow by 3.6% to USD9,126.7bn (10.4% of GDP) in 2019.

It is forecast to rise by 3.7% pa to USD13,085.7bn by 2029 (11.5% of GDP).

WORLD:TOTAL CONTRIBUTION OF TRAVEL & TOURISM TO GDP

CONSTANT 2018 USDBN % OF WHOLE ECONOMY GDP

14,000 14.0

12,000 12.0

10,000 10.0

8,000 8.0

6,000 6.0

4,000 4.0

2,000 2.0

0 0.0
2018 2019 2029
2029 2018 2019 2029
2028

Direct Indirect Induced Direct Indirect Induced

1
All values are in constant 2018 prices & exchange rates

TRAVEL & TOURISM ECONOMIC IMPACT 2019 | 3

 TRAVEL & TOURISM'S CONTRIBUTION
TO EMPLOYMENT

Travel & Tourism generated 122,891,000 jobs directly in 2018 (3.8% of total employment) and this is forecast to grow by 2.2% in 2019 to 125,595,000
(3.9% of total employment). This includes employment by hotels, travel agents, airlines and other passenger transportation services (excluding
commuter services). It also includes, for example, the activities of the restaurant and leisure industries directly supported by tourists.

By 2029, Travel & Tourism will account for 154,060,000 jobs directly, an increase of 2.1% pa over the next ten years.

WORLD: DIRECT CONTRIBUTION OF TRAVEL & TOURISM TO EMPLOYMENT

'000 JOBS % OF WHOLE ECONOMY EMPLOYMENT

180,000 4.4

160,000
4.2
140,000

120,000 4.0

100,000
3.8
80,000

60,000 3.6

40,000
3.4
20,000

0 3.2
2009

2012

2014

2016

2019

2029
2010
2011

2015

2017
2018
2013
2009
2010
2011

2015

2017
2018
2012
2013
2014

2016

2019

2029

2029
The total contribution of Travel & Tourism to employment (including wider effects from investment, the supply chain and induced income
see page 2) was 318,811,000 jobs in 2018 (10.0% of total employment). This is forecast to rise by 2.9% in 2019 to 328,208,000 jobs (10.1% of total
employment).

By 2029, Travel & Tourism is forecast to support 420,659,000 jobs (11.7% of total employment), an increase of 2.5% pa over the period.

WORLD:TOTAL CONTRIBUTION OF TRAVEL & TOURISM TO EMPLOYMENT

'000 JOBS % OF WHOLE ECONOMY EMPLOYMENT
450,000 14.0
400,000
12.0
350,000
10.0
300,000

250,000 8.0

200,000
6.0
150,000
4.0
100,000

50,000 2.0

0 0.0
2018 2019 2029
2029 2018 2019 2029
2029
Direct Indirect Induced Direct Indirect Induced

4 | WORLD TRAVEL & TOURISM COUNCIL

VISITOR EXPORTS AND INVESTMENT1

VISITOR EXPORTS

Money spent by foreign visitors to a country (or visitor exports) is a key component of the direct contribution of Travel & Tourism. In 2018,
the world generated USD1,643.2bn in visitor exports. In 2019, this is expected to grow by 4.0%, and the world is expected to attract 1,484,910,000
international tourist arrivals.

By 2029, international tourist arrivals are forecast to total 2,196,090,000, generating expenditure of USD2,483.9bn, an increase of 3.8% pa.

WORLD:VISITOR EXPORTS AND INTERNATIONAL TOURIST ARRIVALS

CONSTANT 2018 USDBN mn FOREIGN VISITOR EXPORTS AS % OF TOTAL EXPORTS

3,000 2,502 8.0

7.0
2,500 2,085
6.0
2,000 1,668
5.0
1,500 1,251
4.0
1,000 834
3.0
500 417 2.0

0 0 1.0
2009

2011

2015

2018
2012
2013

2017
2014

2016

2019

2029
2010

2029

0.0
2009

2012

2014

2016

2019

2029
2010
2011

2015

2017
2018
2013

2029
FOREIGN VISITOR EXPORTS (LHS)
FOREIGN TOURIST ARRIVALS (RHS)

INVESTMENT
Travel & Tourism is expected to have attracted capital investment of USD940.9bn in 2018. This is expected to rise by 4.4% in 2019, and rise by
4.2% pa over the next ten years to USD1,489.5bn in 2029.

Travel & Tourism’s share of total national investment will rise from 4.4% in 2019 to 5.0% in 2029.

WORLD:CAPITAL INVESTMENT IN TRAVEL & TOURISM

CONSTANT 2018 USDBN % OF WHOLE ECONOMY INVESTMENT
1,600 6.0

1,400 5.0
1,200
4.0
1,000

800 3.0

600
2.0
400
1.0
200

0 0.0
2009

2012

2014

2016

2019

2029
2010
2011

2015

2017
2018
2013

2009

2016

2019

2029
2010
2011

2015

2017
2018
2012
2013
2014
2029

2029

1
All values are in constant 2018 prices & exchange rates

TRAVEL & TOURISM ECONOMIC IMPACT 2019 | 5

DIFFERENT COMPONENTS OF
TRAVEL & TOURISM1
WORLD
TRAVEL & TOURISM'S CONTRIBUTION TO GDP:
BUSINESS VS LEISURE, 2018 Leisure travel spending (inbound and domestic)
generated 78.5% of direct Travel & Tourism GDP in
Leisure 2018 (USD4,475.3bn) compared with 21.5% for business
spending travel spending (USD1,228.0bn).
78.5%
Leisure travel spending is expected to grow by 3.8% in
Business 2019 to USD4,646.6bn, and rise by 3.9% pa to
spending USD6,780.7bn in 2029.
21.5%
Business travel spending is expected to grow by 3.0%
in 2019 to USD1,265.4bn, and rise by 3.2% pa to
USD1,735.1bn in 2029.

WORLD
TRAVEL & TOURISM'S CONTRIBUTION TO GDP:
DOMESTIC VS FOREIGN, 2018 Domestic travel spending generated 71.2% of direct
Travel & Tourism GDP in 2018 compared with 28.8%
Foreign visitor
for visitor exports (ie foreign visitor spending or
spending
international tourism receipts).
28.8%
Domestic
Domestic travel spending is expected to grow by
spending
3.5% in 2019 to USD4,203.8bn, and rise by 3.7% pa to
71.2% USD6,031.9bn in 2029.

Visitor exports are expected to grow by 4.0% in 2019

to USD1,708.2bn, and rise by 3.8% pa to USD2,483.9bn
in 2029.

WORLD
BREAKDOWN OF TRAVEL & TOURISM'S
TOTAL CONTRIBUTION TO GDP, 2018 The Travel & Tourism industry contributes to GDP
Direct and employment in many ways as detailed on page 2.
31.2%
Induced

17.3%
The total contribution of Travel & Tourism to GDP
Indirect is three times greater than its direct contribution.
51.5% a

Indirect is the
sum of:
(a) Supply chain
36.7% c
b
(b) Investment
8.4%
(c) Government
collective
6.4%
1
All values are in constant 2018 prices & exchange rates

6 | WORLD TRAVEL & TOURISM COUNCIL

 SUMMARY TABLES:
ESTIMATES & FORECASTS
2018 2018 2019 2029
1 2 1
WORLD USDbn % of total Growth USDbn % of total Growth3
Direct contribution to GDP 2,750.7 3.2 3.6 4,065.0 3.5 3.6
Total contribution to GDP 8,811.0 10.4 3.6 13,085.7 11.5 3.7
4
Direct contribution to employment 122,891 3.8 2.2 154,060 4.3 2.1
4
Total contribution to employment 318,811 10.0 2.9 420,659 11.7 2.5
Visitor exports 1,643.2 6.5 4.0 2,483.9 7.2 3.8
Domestic spending 4,060.1 4.8 3.5 6,031.9 5.3 3.7
Leisure spending 4,475.3 2.5 3.8 6,780.7 2.8 3.9
Business spending 1,228.0 0.7 3.0 1,735.1 0.7 3.2
Capital investment 940.9 4.4 4.4 1,489.5 5.0 4.2
1 2 3 4
2018 constant prices & exchange rates; 2019 real growth adjusted for inflation (%); 2019-2029 annualised real growth adjusted for inflation (%); '000 jobs

% of total refers to each indicator's share of the relevant whole economy indicator such as GDP and employment. Visitor exports is shown relative to total exports of goods and services.
Domestic spending is expressed relative to whole economy GDP. For leisure and business spending, their direct contribution to Travel & Tourism GDP is calculated as a share of
whole economy GDP (the sum of these shares equals the direct contribution). Investment is relative to whole economy investment.

TRAVEL & TOURISM ECONOMIC IMPACT 2019 | 7

 THE ECONOMIC CONTRIBUTION OF
TRAVEL & TOURISM: REAL 2018 PRICES
WORLD

(USDbn, real 2018 prices) 2013 2014 2015 2016 2017 2018 2019E 2029F

1. Visitor exports 1,327.9 1,397.6 1,462.4 1,498.8 1,577.7 1,643.2 1,708.2 2,483.9

Domestic expenditure
2. 3,339.5 3,427.5 3,576.3 3,725.8 3,906.0 4,060.1 4,203.8 6,031.9
(includes government individual spending)

3. Internal tourism consumption

4,667.5 4,825.1 5,038.7 5,224.6 5,483.7 5,703.4 5,912.0 8,515.8
(= 1 + 2 )

4. Purchases by tourism providers,

including imported goods -2,461.8 -2,537.4 -2,618.1 -2,706.9 -2,836.9 -2,952.7 -3,062.8 -4,450.8
(supply chain)

5. Direct contribution of
Travel & Tourism to GDP 2,205.6 2,287.7 2,420.6 2,517.8 2,646.8 2,750.7 2,849.2 4,065.0
(= 3 + 4)

Other final impacts

(indirect & induced) 2,235.0 2,323.6 2,427.9 2,526.0 2,640.0 2,730.2 2,820.9 4,208.1
6. Domestic supply chain

7. Capital investment 750.2 784.3 824.2 850.5 905.0 940.9 982.4 1,489.5

8. Government collective spending 412.4 420.2 433.4 446.1 456.6 472.4 486.3 640.7

Imported goods from indirect

9. 263.3 264.7 291.6 337.7 374.6 393.8 411.9 476.7
spending

10. Induced 1,270.2 1,309.5 1,374.7 1,422.3 1,479.2 1,523.0 1,576.0 2,205.6

11. Total contribution of

Travel & Tourism to GDP 7,136.6 7,389.9 7,772.4 8,100.3 8,502.2 8,811.0 9,126.7 13,085.7
(= 5 + 6 + 7 + 8 + 9 + 10)

Employment impacts ('000)

12. Direct contribution of Travel & 109,985 112,291 115,297 117,336 119,627 122,891 125,595 154,060
Tourism to employment

Total contribution of Travel &

13. 281,112 287,040 296,101 303,431 311,703 318,811 328,208 420,659
Tourism to employment

Other indicators
1,173.3 1,291.3 1,351.7 1,386.8 1,445.2 1,495.1 1,560.9 2,200.1
14. Expenditure on outbound travel

8 | WORLD TRAVEL & TOURISM COUNCIL

 THE ECONOMIC CONTRIBUTION OF
TRAVEL & TOURISM: NOMINAL PRICES
WORLD

(USDbn, nominal prices) 2013 2014 2015 2016 2017 2018 2019E 2029F

1. Visitor exports 1,363.1 1,438.9 1,386.7 1,404.2 1,519.2 1,643.2 1,738.5 3,345.4

Domestic expenditure
2. 3,501.2 3,580.1 3,429.3 3,522.2 3,792.5 4,060.1 4,260.1 8,350.0
(includes government individual spending)

3. Internal tourism consumption

4,864.3 5,019.1 4,816.0 4,926.4 5,311.7 5,703.4 5,998.6 11,695.4
(= 1 + 2 )

4. Purchases by tourism providers,

including imported goods -2,559.5 -2,630.8 -2,495.0 -2,545.3 -2,743.8 -2,952.7 -3,105.7 -2,559.5
(supply chain)
5. Direct contribution of
Travel & Tourism to GDP 2,304.8 2,388.3 2,320.9 2,381.1 2,567.9 2,750.7 2,892.9 5,562.8
(= 3 + 4)

Other final impacts

(indirect & induced) 2,322.5 2,407.4 2,320.4 2,374.7 2,551.1 2,730.2 2,855.6 5,878.2
6. Domestic supply chain

7. Capital investment 781.2 811.9 791.2 806.6 879.9 940.9 997.4 2,053.0

8. Government collective spending 429.0 434.5 412.7 423.3 443.6 472.4 493.9 870.6

Imported goods from indirect

9. 266.7 268.9 279.6 316.9 361.0 393.9 419.6 638.0
spending

10. Induced 1,328.0 1,363.9 1,319.2 1,347.5 1,437.2 1,523.0 1,598.8 3,028.3

11. Total contribution of

Travel & Tourism to GDP 7,432.2 7,674.8 7,444.0 7,650.2 8,240.7 8,811.0 9,258.3 18,031.0
(= 5 + 6 + 7 + 8 + 9 + 10)

Employment impacts ('000)

12. Direct contribution of Travel & 109,985 112,291 115,297 117,336 119,627 122,891 125,595 154,060
Tourism to employment

Total contribution of Travel &

13. 281,112 287,040 296,101 303,431 311,703 318,811 328,208 420,659
Tourism to employment

Other indicators
1,245.1 1,356.0 1,289.6 1,297.1 1,393.1 1,495.1 1,582.6 3,040.5
14. Expenditure on outbound travel

*Concepts shown in this table align with the standard table totals as described in the 2008 Tourism Satellite Account: Recommended
Methodological Framework (TSA: RMF 2008) developed by the United Nations Statistical Division (UNSD), the Statistical Office of the
European Communities (EUROSTAT), the Organisation for Economic Co-operation and Development (OECD) and the World Tourism
Organization (UNWTO).
Historical data for concepts has been benchmarked to match reported TSA data where available.

TRAVEL & TOURISM ECONOMIC IMPACT 2019 | 9

 THE ECONOMIC CONTRIBUTION OF
TRAVEL & TOURISM GROWTH
WORLD
2
Growth1 (%) 2013 2014 2015 2016 2017 2018 2019E 2029F

1. Visitor exports 5.4 5.2 4.6 2.5 5.3 4.2 4.0 3.8

Domestic expenditure
2. 3.1 2.6 4.3 4.2 4.8 3.9 3.5 3.7
(includes government individual spending)

3. Internal tourism consumption

3.7 3.4 4.4 3.7 5.0 4.0 3.7 3.7
(= 1 + 2 )

4. Purchases by tourism providers,

including imported goods 3.8 3.1 3.2 3.4 4.8 4.1 3.7 3.8
(supply chain)

5. Direct contribution of
Travel & Tourism to GDP 3.6 3.7 5.8 4.0 5.1 3.9 3.6 3.6
(= 3 + 4)

Other final impacts

(indirect & induced) 4.9 4.0 4.5 4.0 4.5 3.4 3.3 4.1
6. Domestic supply chain

7. Capital investment 2.4 4.5 5.1 3.2 6.4 4.0 4.4 4.2

8. Government collective spending 1.7 1.9 3.1 2.9 2.4 3.4 3.0 2.8

Imported goods from indirect

9. 4.1 0.5 10.2 15.8 10.9 5.1 4.6 1.5
spending

10. Induced 4.0 3.1 5.0 3.5 4.0 3.0 3.5 3.4

11. Total contribution of

Travel & Tourism to GDP 3.9 3.5 5.2 4.2 5.0 3.6 3.6 3.7
(= 5 + 6 + 7 + 8 + 9 + 10)

Employment impacts ('000)

12. Direct contribution of Travel & 1.5 2.1 2.7 1.8 2.0 2.7 2.2 2.1
Tourism to employment

Total contribution of Travel &

13. 2.4 2.1 3.2 2.5 2.7 2.3 2.9 2.5
Tourism to employment

Other indicators
7.1 10.1 4.7 2.6 4.2 3.5 4.4 3.5
14. Expenditure on outbound travel

1 2
2013-2018 real annual growth adjusted for inflation (%); 2019-2029 annualised real growth adjusted for inflation (%)

10 | WORLD TRAVEL & TOURISM COUNCIL

GLOSSARY
KEY DEFINITIONS
TRAVEL & TOURISM
Relates to the activity of travellers on trips outside their
usual environment with a duration of less than one year.
Economic activity related to all aspects of such trips is
measured within the research.
DIRECT CONTRIBUTION TO GDP
GDP generated by industries that deal directly with
tourists, including hotels, travel agents, airlines and other
passenger transport services, as well as the activities of
restaurant and leisure industries that deal directly with
tourists. It is equivalent to total internal Travel & Tourism
spending (see below) within a country less the purchases
made by those industries (including imports). In terms
of the UN’s Tourism Satellite Account methodology it is
consistent with total GDP calculated in table 6 of the TSA:
RMF 2008.
DIRECT CONTRIBUTION TO EMPLOYMENT
The number of direct jobs within Travel & Tourism. This is
consistent with total employment calculated in table 7 of
the TSA: RMF 2008.
TOTAL CONTRIBUTION TO GDP
GDP generated directly by the Travel & Tourism sector plus
its indirect and induced impacts (see below).
TOTAL CONTRIBUTION TO EMPLOYMENT
The number of jobs generated directly in the Travel
& Tourism sector plus the indirect and induced
contributions (see below).
DIRECT SPENDING IMPACTS
VISITOR EXPORTS
Spending within the country by international tourists
for both business and leisure trips, including spending
on transport, but excluding international spending on
education. This is consistent with total inbound tourism
expenditure in table 1 of the TSA: RMF 2008.
DOMESTIC TRAVEL & TOURISM SPENDING
Spending within a country by that country’s residents for
both business and leisure trips. Multi-use consumer durables
are not included since they are not purchased solely for
tourism purposes. This is consistent with total domestic
tourism expenditure in table 2 of the TSA: RMF 2008.
Outbound spending by residents abroad is not included
here, but is separately identified according to the TSA: RMF
2008 (see below).
GOVERNMENT INDIVIDUAL SPENDING
Spending by government on Travel & Tourism services
directly linked to visitors, such as cultural services (eg
museums) or recreational services (eg national parks).
INTERNAL TOURISM CONSUMPTION
Total revenue generated within a country by industries that deal
directly with tourists including visitor exports, domestic spending
and government individual spending. This does not include
spending abroad by residents. This is consistent with total internal
tourism expenditure in table 4 of the TSA: RMF 2008.
BUSINESS TRAVEL & TOURISM SPENDING
Spending on business travel within a country by residents and
international visitors.
LEISURE TRAVEL & TOURISM SPENDING
Spending on leisure travel within a country by residents and
international visitors.
INDIRECT AND INDUCED IMPACTS
INDIRECT CONTRIBUTION
The contribution to GDP and jobs of the following three factors:
• CAPITAL INVESTMENT: Includes capital investment
spending by all industries directly involved in Travel &
Tourism. This also constitutes investment spending by other
industries on specific tourism assets such as new visitor
accommodation and passenger transport equipment, as
well as restaurants and leisure facilities for specific tourism
use. This is consistent with total tourism gross fixed capital
formation in table 8 of the TSA: RMF 2008.
• GOVERNMENT COLLECTIVE SPENDING: Government
spending in support of general tourism activity. This can
include national as well as regional and local government
spending. For example, it includes tourism promotion, visitor
information services, administrative services and other public
services. This is consistent with total collective tourism
consumption in table 9 of TSA: RMF 2008.
• SUPPLY-CHAIN EFFECTS: Purchases of domestic goods
and services directly by different industries within Travel &
Tourism as inputs to their final tourism output.
INDUCED CONTRIBUTION
The broader contribution to GDP and employment of spending by
those who are directly or indirectly employed by Travel & Tourism.
OTHER INDICATORS
OUTBOUND EXPENDITURE
Spending outside the country by residents on all trips abroad.
This is fully aligned with total outbound tourism expenditure in
table 3 of the TSA: RMF 2008.
FOREIGN VISITOR ARRIVALS
The number of arrivals of foreign visitors, including same-day and
overnight visitors (tourists) to the country.
TRAVEL & TOURISM ECONOMIC IMPACT 2019 | 11
 METHODOLOGICAL NOTE
WTTC has an on-going commitment to align its economic impact research with the UN Statistics Division-approved 2008 Tourism Satellite
Account: Recommended Methodological Framework (TSA:RMF 2008). This involves the benchmarking of country reports to official,
published TSAs, including for countries which are reporting data for the first time, as well as existing countries reporting an additional year’s
data. New country TSAs incorporated this year include Botswana, Macao, Malta, South Korea and Uruguay, bringing our total of countries in
our benchmarking dataset to 63. Our TSA benchmarked countries now cover 85% of global direct T&T GDP.

WTTC coverage includes data on 185 countries and reports on 25 other regions, sub-regions and economic and geographic groups. This
year, there are 10 reports for special economic and geographic groups.

ECONOMIC AND GEOGRAPHIC GROUPS

APEC (ASIA-PACIFIC ECONOMIC COOPERATION) (OIC) ORGANISATION FOR ISLAMIC COOPERATION**

Australia, Brunei, Canada, Chile, China, Hong Kong, Indonesia, Japan,
South Korea, Malaysia, Mexico, New Zealand, Papua New Guinea,
Peru, Philippines, Russian Federation, Singapore, Taiwan, Thailand,
USA, Vietnam.
FORMER NETHERLANDS ANTILLES
Bonaire, Curacao, Sint Maarten, Saba and Sint Eustatius.
G20
Argentina, Australia, Brazil, Canada, China, European Union,
France*, Germany*, India, Indonesia, Italy*, Japan, Mexico, Russian
Federation, Saudi Arabia, South Africa, South Korea, Turkey, UK*,
USA.
Albania, Algeria, Azerbaijan, Bahrain, Bangladesh, Benin, Brunei
Darussalam, Burkina Faso, Cameroon, Chad, Comoros, Egypt,
Gabon, Gambia, Guinea, Guyana, Indonesia, Iran, Iraq, Ivory
Coast, Jordan, Kazakhstan, Kuwait, Kyrgyzstan, Lebanon, Libya,
Malaysia, Maldives, Mali, Morocco, Mozambique, Niger, Nigeria,
Oman, Pakistan, Qatar, Saudi Arabia, Senegal, Sierra Leone, Sudan,
Suriname, Syria, Tajikistan, Togo, Tunisia, Turkey, UAE, Uganda,
Uzbekistan, Yemen.
OTHER OCEANIA
American Samoa, Cook Islands, French Polynesia, Guam, Marshall
Islands, Micronesia (Federated States of), New Caledonia, Niue,
Northern Mariana Islands, Palau, Samoa, Tuvalu.

GCC (GULF COOPERATION COUNCIL) PACIFIC ALLIANCE

Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, UAE. Chile, Colombia, Mexico, Peru.

OAS (ORGANIZATION OF AMERICAN STATES) SADC (SOUTHERN AFRICAN DEVELOPMENT COMMUNITY)

Argentina, Antigua and Barbuda, Bahamas, Barbados, Belize, Bolivia, Angola, Botswana, Democratic Republic of Congo (DRC), Eswatini,
Brazil, Canada, Chile, Colombia, Costa Rica, Cuba, Dominican Lesotho, Madagascar, Malawi, Mauritius, Mozambique, Namibia,
Republic, Dominica, Ecuador, El Salvador, Grenada, Guatemala, Seychelles, South Africa, Tanzania, Zambia, Zimbabwe.
Guyana, Haiti, Honduras, Jamaica, Mexico, St Kitts and Nevis,
Nicaragua, Panama, Paraguay, Peru, St Lucia, St Vincent and the
Grenadines, Suriname, Trinidad and Tobago, USA, Uruguay.

OECD (ORGANISATION FOR ECONOMIC CO-OPERATION AND

DEVELOPMENT)
Australia, Austria, Belgium, Canada, Chile, Czech Republic, Denmark,
Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland,
Israel, Italy, Japan, South Korea, Latvia, Lithuania, Luxembourg,
Mexico, Netherlands, New Zealand, Norway, Poland, Portugal,
Slovak Republic, Slovenia, Spain, Sweden, Switzerland, Turkey,
UK, USA.

* included in European Union

** no data for Afghanistan, Djibouti, Guinea-Bissau, Mauritania, Palestine, Somalia or Turkmenistan

12 | WORLD TRAVEL & TOURISM COUNCIL

ECONOMIC IMPACT REPORTS
REGIONS, SUB REGIONS &COUNTRIES
WORLD

SUB-REGION
SUB REGION

SUB REGION

SUB REGION
REGION

REGION
REGION

REGION
COUNTRY COUNTRY COUNTRY COUNTRY

Algeria Anguilla China Hungary

NORTH AFRICA

Egypt Antigua and Barbuda Hong Kong Ireland

NORTHEAST ASIA
Libya Aruba Japan Italy
Morocco Bahamas South Korea
Latvia
Tunisia Macau
Barbados Lithuania
Angola Mongolia
Bermuda Luxembourg
Taiwan

EUROPEAN UNION
Benin
British Virgin Islands Malta
Kazakhstan

CENTRAL ASIA
Botswana
Cayman Islands Netherlands
Burkina Faso Kyrgyzstan
Cuba Poland
Burundi Tajikistan
Dominica Portugal
Cameroon Uzbekistan
CARIBBEAN

Dominican Republic Romania

Australia
Cape Verde
Former Netherland Antillies Fiji Slovakia
Central African Republic
Grenada Kiribati Slovenia
Chad
Guadeloupe New Zealand Spain
OCEANIA

Comoros
Haiti Papua New Guinea Sweden
Congo

EUROPE
ASIA-PACIFIC

Jamaica Solomon Islands UK

Cote d'Ivoire
Martinique Tonga Albania
Democratic Republic of Congo
Puerto Rico Vanuatu Armenia
Eswatini
Other Oceanic States
Ethiopia St Kitts and Nevis Azerbaijan
Bangladesh
Gabon St Lucia Belarus
India
SOUTH ASIA

Gambia St Vincent and the Grenadines Bosnia and Herzegovina

Maldives
AMERICAS

Ghana Trinidad and Tobago Georgia

AFRICA

Nepal
Guinea US Virgin Islands Iceland
OTHER EUROPE

Pakistan
Kenya
SUB-SAHARAN

Argentina Moldova
Sri Lanka
Lesotho Belize Montenegro
Brunei Darussalam
Madagascar Bolivia North Macedonia
Cambodia
Malawi
SOUTHEAST ASIA (ASEAN)

Brazil Indonesia Norway

Mali
Chile Laos Russian Federation
Mauritius
Colombia Malaysia Serbia
Mozambique
Costa Rica Myanmar Switzerland
Namibia
Ecuador Philippines Turkey
LATIN AMERICA

Niger
El Salvador Singapore Ukraine
Nigeria
Guatemala Thailand Bahrain
Reunion
Vietnam
Guyana Iran
Rwanda Austria
Honduras Iraq
Sao Tome and Principe Belgium
Nicaragua Israel
Senegal Bulgaria
Panama Jordan
Seychelles
MIDDLE EAST

Croatia
Paraguay
EUROPEAN UNION

Kuwait
Sierra Leone Cyprus
EUROPE

Peru Lebanon
South Africa Czech Republic
Sudan Suriname Oman
Denmark
Tanzania Uruguay Qatar
Estonia
Togo Venezuela Finland Saudi Arabia

Uganda Canada France Syria

AMERICA
NORTH

Zambia Mexico Germany United Arab Emirates

Zimbabwe USA Greece Yemen

TRAVEL & TOURISM ECONOMIC IMPACT 2019 | 13

 The World Travel & Tourism Council is the global authority on the economic and social contribution of
Travel & Tourism.
WTTC promotes sustainable growth for the Travel & Tourism sector, working with governments and international institutions to create jobs, to
drive exports and to generate prosperity. Council Members are the Chairs, Presidents and Chief Executives of the world’s leading private sector
Travel & Tourism businesses.

Together with Oxford Economics, WTTC produces annual research that shows Travel & Tourism to be one of the world’s largest sectors,
supporting over 319 million jobs and generating 10.4% of global GDP in 2018. Comprehensive reports quantify, compare and forecast the
economic impact of Travel & Tourism on 185 economies around the world. In addition to individual country fact sheets, and fuller country
reports, WTTC produces a world report highlighting global trends and 25 further reports that focus on regions, sub-regions and economic and
geographic groups.

To download reports or data, please visit www.wttc.org

Assisting WTTC to Provide Tools for Analysis, Benchmarking, Forecasting and Planning.

Oxford Economics is a leader in global forecasting and quantitative analysis. Our worldwide client base comprises more than 1,500 international
corporations, financial institutions, government organisations, and universities.

Headquartered in Oxford, with offices around the world, we employ 400 staff, including 250 economists and analysts. Our best-in-class global
economic and industry models and analytical tools give us an unmatched ability to forecast external market trends and assess their economic,
social and business impact.

For more information, visit www.oxfordeconomics.com

Contributing data to the WTTC Economic Impact Model

STR is the source for premium hotel data benchmarking, analytics and marketplace insights. STR provides data that is reliable, confidential,
accurate and actionable, and their comprehensive solutions empower clients to strategize and compete within their markets. The company’s
range of products includes data-driven solutions, thorough analytics and unrivalled marketplace insights, all built to fuel business growth and
help clients make better operational and financial decisions. STR maintains a presence in 15 countries and collects data for over 62,000 hotels
across 180 countries.

ForwardKeys analyses more than 17m flight booking transactions a day, drawing data from all the major global air reservation systems and
selected airlines and tour operators. This information is enhanced with further independent data sets, including flight search and official
government statistics, plus data science to paint a picture of who is travelling where and when. ForwardKeys’ analytics are used by traveller-
focussed businesses worldwide to monitor and anticipate traveller arrivals from a particular origin market at a specific time. This analysis
enables parties to anticipate the impact of events, better manage their staffing levels, fine tune supply requirements, adjust and measure the
effectiveness of their marketing efforts and anticipate future market trends.

14 | WORLD TRAVEL & TOURISM COUNCIL

© World Travel & Tourism Council: Travel & Tourism Economic Impact 2019 - March 2019. All rights reserved.

The copyright laws of the United Kingdom allow certain uses of this content without our (i.e. the copyright owner’s) permission. You are permitted to use limited extracts of this content, provided such use is fair and when such use
is for non-commercial research, private study, review or news reporting. The following acknowledgment must also be used, whenever our content is used relying on this “fair dealing” exception:
“Source: World Travel and Tourism Council: Travel & Tourism Economic Impact 2019 - March 2019. All rights reserved.”

If your use of the content would not fall under the “fair dealing” exception described above, you are permitted to use this content in whole or in part for non-commercial or commercial use provided you comply with the Attribution,
Non-Commercial 4.0 International Creative Commons Licence. In particular, the content is not amended and the following acknowledgment is used, whenever our content is used:
“Source: World Travel and Tourism Council: Economic Impact 2019 - March 2019. All rights reserved. Licensed under the Attribution, Non-Commercial 4.0 International Creative Commons Licence.”

You may not apply legal terms or technological measures that legally restrict others from doing anything this license permits.

Inside cover: Juan Di Nella, Unsplash

THE AUTHORITY ON WORLD TRAVEL & TOURISM
WORLD TRAVEL & TOURISM COUNCIL (WTTC), The Harlequin Building, 65 Southwark Street, London SE1 0HR, United Kingdom
Tel: +44 (0) 207 481 8007 | Email: enquiries@wttc.org | www.wttc.org